NASSCOM launches Start-up hub in Hyderabad

New Delhi

The event was addressed by Kalvakuntla Taraka Rama Rao, Cabinet Minister for IT & Panchayat Raj, Telangana State, along with M. BVR Mohan Reddy, Chairman, NASSCOM and R. Chandrasekhar, President NASSCOM, Srinivas Kollipara, Founder, T-Hub, Jay Krishnan, CEO, T-Hub.

The 10,000 Start-ups program has initiated start-up warehouses across different states to create a micro-ecosystem where many start-ups and entrepreneurs can work together and share their experiences with each other, the IT association said in a statement.

After successfully starting the first start-up warehouse in the country in Bangalore in 2013, followed by warehouse in other cities including Kolkata, Navi Mumbai, Pune, Kochi, and Gurgaon.

NASSCOM 10,000 start-up program is now looking to launch this facility in other emerging cities in partnership with their respective governments. NASSCOM has also expanded its start-up warehouse in Bengaluru to 40,000 sq feet from the existing 10,000 sq feet to keep up with the response it has received from budding entrepreneurs in the state of Karnataka.

According to a NASSCOM report titled 'Start-up India-Momentous Rise of the Indian Start-up Ecosystem', Hyderabad is one of the emerging cities. The Telangana government has been empowering start-ups by focusing on initiatives that strengthen their value propositions including the one of a kind incubation center T-Hub in collaboration with ISB, NALSAR and IIIT, and has also announced $100 Million venture capital fund.

R. Chandrashekhar, President, NASSCOM said, "Hyderabad start-up ecosystem has grown extensively in the last one year. We wanted to back this culture and support these young minds to foster and create tomorrow's global brands. The new warehouse will be a part of T-hub incubator, which will provide best of the best facilities to entrepreneurs and start-up founders".

A start-up warehouse is an incubator and co-working space for technology start-ups and early stage product companies at a reasonable cost. The co-working space allows early-stage technology start-ups to work for 6-12 months during which it will facilitate demos and pitches by start-ups to investors, large corporate's, other accelerators/incubators and individual mentors.

NASSCOM's 10,000 Startups Program is supported by Google, Microsoft, IBM, AWS and Kotak.